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Notes Payable (Tables) | 12 Months Ended
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Dec. 31, 2023
Debt Disclosure [Abstract] |
Schedule of Notes Payable | As of December 31, 2023 and 2022, the principal balances on notes payable are as follows (dollars in thousands): Schedule of Notes Payable
|  | Original Debt |  |  | Monthly |  |  | Balance as of |  |  |  |  | Term (in |  |  |  | Interest |  |  | Loan
Loan |  | Amount |  |  | Payment |  |  | 12/31/23 |  |  | Lender |  | Years) |  |  |  | Rate |  |  | Maturity
MVP Memphis Poplar (3) |  | $ | 1,800 |  |  |  | I/O |  |  | $ | 1,800 |  |  | LoanCore |  | 5 |  |  |  |  | 5.38 | % |  | 3/6/2024
MVP St. Louis (3) |  | $ | 3,700 |  |  |  | I/O |  |  | $ | 3,700 |  |  | LoanCore |  | 5 |  |  |  |  | 5.38 | % |  | 3/6/2024
Mabley Place Garage, LLC |  | $ | 9,000 |  |  | $ | 44 |  |  | $ | 7,428 |  |  | Barclays |  | 10 |  |  |  |  | 4.25 | % |  | 12/6/2024
322 Streeter Holdco LLC |  | $ | 25,900 |  |  | $ | 130 |  |  | $ | 24,672 |  |  | American National Insurance Co. |  | 5 |  | * |  |  | 3.50 | % |  | 3/1/2025
MVP Houston Saks Garage, LLC |  | $ | 3,650 |  |  | $ | 20 |  |  | $ | 2,851 |  |  | Barclays Bank PLC |  | 10 |  |  |  |  | 4.25 | % |  | 8/6/2025
Minneapolis City Parking, LLC |  | $ | 5,250 |  |  | $ | 29 |  |  | $ | 4,223 |  |  | American National Insurance, of NY |  | 10 |  |  |  |  | 4.50 | % |  | 5/1/2026
MVP Bridgeport Fairfield Garage, LLC |  | $ | 4,400 |  |  | $ | 23 |  |  | $ | 3,531 |  |  | FBL Financial Group, Inc. |  | 10 |  |  |  |  | 4.00 | % |  | 8/1/2026
West 9th Properties II, LLC |  | $ | 5,300 |  |  | $ | 30 |  |  | $ | 4,343 |  |  | American National Insurance Co. |  | 10 |  |  |  |  | 4.50 | % |  | 11/1/2026
MVP Fort Worth Taylor, LLC |  | $ | 13,150 |  |  | $ | 73 |  |  | $ | 10,807 |  |  | American National Insurance, of NY |  | 10 |  |  |  |  | 4.50 | % |  | 12/1/2026
MVP Detroit Center Garage, LLC |  | $ | 31,500 |  |  | $ | 194 |  |  | $ | 26,759 |  |  | Bank of America |  | 10 |  |  |  |  | 5.52 | % |  | 2/1/2027
St. Paul Holiday Garage, LLC (1) |  | $ | 4,132 |  |  | $ | 24 |  |  | $ | 3,714 |  |  | KeyBank |  | 10 |  | * |  |  | 4.90 | % |  | 5/1/2027
MVP St. Louis Washington, LLC (1) |  | $ | 1,380 |  |  | $ | 8 |  |  | $ | 1,241 |  |  | KeyBank |  | 10 |  | * |  |  | 4.90 | % |  | 5/1/2027
Cleveland Lincoln Garage, LLC (1) |  | $ | 3,999 |  |  | $ | 23 |  |  | $ | 3,594 |  |  | KeyBank |  | 10 |  | * |  |  | 4.90 | % |  | 5/1/2027
MVP Denver Sherman, LLC (1) |  | $ | 286 |  |  | $ | 2 |  |  | $ | 257 |  |  | KeyBank |  | 10 |  | * |  |  | 4.90 | % |  | 5/1/2027
MVP Milwaukee Arena Lot, LLC (1) |  | $ | 2,142 |  |  | $ | 12 |  |  | $ | 1,925 |  |  | KeyBank |  | 10 |  | * |  |  | 4.90 | % |  | 5/1/2027
MVP Denver 1935 Sherman, LLC (1) |  | $ | 762 |  |  | $ | 4 |  |  | $ | 684 |  |  | KeyBank |  | 10 |  | * |  |  | 4.90 | % |  | 5/1/2027
MVP Louisville Broadway Station, LLC (2) |  | $ | 1,682 |  |  |  | I/O |  |  | $ | 1,682 |  |  | Cantor Commercial Real Estate |  | 10 |  | ** |  |  | 5.03 | % |  | 5/6/2027
MVP Whitefront Garage, LLC (2) |  | $ | 6,454 |  |  |  | I/O |  |  | $ | 6,454 |  |  | Cantor Commercial Real Estate |  | 10 |  | ** |  |  | 5.03 | % |  | 5/6/2027
MVP Houston Preston Lot, LLC (2) |  | $ | 1,627 |  |  |  | I/O |  |  | $ | 1,627 |  |  | Cantor Commercial Real Estate |  | 10 |  | ** |  |  | 5.03 | % |  | 5/6/2027
MVP Houston San Jacinto Lot, LLC (2) |  | $ | 1,820 |  |  |  | I/O |  |  | $ | 1,820 |  |  | Cantor Commercial Real Estate |  | 10 |  | ** |  |  | 5.03 | % |  | 5/6/2027
St. Louis Broadway, LLC (2) |  | $ | 1,671 |  |  |  | I/O |  |  | $ | 1,671 |  |  | Cantor Commercial Real Estate |  | 10 |  | ** |  |  | 5.03 | % |  | 5/6/2027
St. Louis Seventh & Cerre, LLC (2) |  | $ | 2,057 |  |  |  | I/O |  |  | $ | 2,057 |  |  | Cantor Commercial Real Estate |  | 10 |  | ** |  |  | 5.03 | % |  | 5/6/2027
MVP Indianapolis Meridian Lot, LLC (2) |  | $ | 938 |  |  |  | I/O |  |  | $ | 938 |  |  | Cantor Commercial Real Estate |  | 10 |  | ** |  |  | 5.03 | % |  | 5/6/2027
St Louis Cardinal Lot DST, LLC |  | $ | 6,000 |  |  |  | I/O |  |  | $ | 6,000 |  |  | Cantor Commercial Real Estate |  | 10 |  |  |  |  | 5.25 | % |  | 5/31/2027
MVP Preferred Parking, LLC |  | $ | 11,330 |  |  | $ | 66 |  |  | $ | 11,028 |  |  | Key Bank |  | 10 |  | ** |  |  | 5.02 | % |  | 8/1/2027
Less unamortized loan issuance costs |  |  |  |  |  |  |  |  |  | $ | (426 | ) |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  | $ | 134,380 |  |  |  |  |  |  |  |  |  |  |  |  |
| (1) | We issued a promissory note to KeyBank for $12.7 million secured by the pool of properties.
| (2) | We issued a promissory note to Cantor Commercial Real Estate Lending, L.P. (“CCRE”) for $16.25 million secured by the pool of properties.
| (3) | The loan is secured by a Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing on each of the properties owned by MVP St. Louis 2013 and MVP Memphis Poplar.
* |  | 2 Year Interest Only
** |  | 10 Year Interest Only
I/O - Interest Only
Schedule of Future Principal Payments on Notes Payable | As of December 31, 2023, future principal payments on notes payable are as follows (dollars in thousands): Schedule of Future Principal Payments on Notes Payable
2024 |  | $ | 10,564 |
2025 |  |  | 29,166 |
2026 |  |  | 22,789 |
2027 |  |  | 67,084 |
Thereafter |  |  | 5,603 |
Total |  | $ | 135,206 |

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